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Compensating for environmental damages

Author

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  • Pascal Gastineau

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper examines a situation in which a decision-maker determines the appropriate compensation that should be awarded for a given amount of ecological damage. The compensation can take the form of either or both monetary and environmental units to meet three goals: i) minimisation of the cost associated with the compensation, ii) no aggregate welfare loss, and iii) minimal environmental compensation requirement. The findings suggest that - in some cases - providing both monetary and environmental compensation can be the cost-minimising option. Minimal compensation constraints can increase total compensation costs but reduce individual gains and losses relative to the initial situation that arise from heterogeneous tradeoffs between income and environmental quality.

Suggested Citation

  • Pascal Gastineau, 2014. "Compensating for environmental damages," Post-Print hal-00968954, HAL.
    • Handle: RePEc:hal:journl:hal-00968954
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    Cited by:

    1. Gastineau, Pascal & Mossay, Pascal & Taugourdeau, Emmanuelle, 2021. "Ecological compensation: How much and where?," Ecological Economics, Elsevier, vol. 190(C).
    2. Kermagoret, Charlène & Levrel, Harold & Carlier, Antoine & Dachary-Bernard, Jeanne, 2016. "Individual preferences regarding environmental offset and welfare compensation: a choice experiment application to an offshore wind farm project," Ecological Economics, Elsevier, vol. 129(C), pages 230-240.
    3. Kyriazi, Zacharoula & Lejano, Raul & Maes, Frank & Degraer, Steven, 2015. "Bargaining a net gain compensation agreement between a marine renewable energy developer and a marine protected area manager," Marine Policy, Elsevier, vol. 60(C), pages 40-48.

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